{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-292548","form_type":"8-K","ticker":null,"cik":"0001393612","company_name":"Discover Financial Services","filed_at":"2023-12-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:28.847137+00:00","generated_at":"2026-06-07T14:48:48.781724+00:00","sec_items":["5.02","8.01","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Discover Financial appoints Michael G. Rhodes as CEO, effective March 2024","bullets":["Rhodes, formerly TD Bank Group head, will become CEO and President on or before March 6, 2024.","He succeeds interim CEO John Owen, who will continue until then and remain on the board.","Compensation includes $1M base salary, 200% STI target, $7M LTI target, plus make-whole and transition awards totaling $9.35M.","Rhodes brings over 25 years of consumer banking and payments experience."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-292548","json":"https://secwatch.observer/filing/0001193125-23-292548.json","markdown":"https://secwatch.observer/filing/0001193125-23-292548.md","text":"https://secwatch.observer/filing/0001193125-23-292548.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1393612/000119312523292548/0001193125-23-292548-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1393612/000119312523292548/d626255d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T14:48:48.781724+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"370ca298ff","claim":"John Owen departed as Interim Chief Executive Officer and President at Discover Financial Services.","evidence_excerpt":"Mr. Owen, who has been serving as Interim Chief Executive Officer and President since August 14, 2023, will continue to serve as a director of each of the Company and the Bank as of the Effective Date.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1393612/000119312523292548/0001193125-23-292548-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"stepped down"},{"label":"Role","value":"Interim Chief Executive Officer and President"}],"fact_type":"executive_change"},{"claim_id":"971f5130d1","claim":"Michael G. Rhodes was appointed as Chief Executive Officer and President at Discover Financial Services.","evidence_excerpt":"appointed Michael G. Rhodes as Chief Executive Officer and President of the Company","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1393612/000119312523292548/0001193125-23-292548-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Executive Officer and President"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}